Area = B class (walking distance to a private university; tenants will most likely be college students)Rent: $1,200/monthExpenses: Taxes = $200/moInsurance = $125/moMaintenance = $100/moVacancy Loss at 5% = $75/mo (Asked owner to see previous leases and home has not had any vacancies for the last 3 years, but is currently vacant; lease ended 7/1)TOTAL EXPENSES: $500/moPrincipal and interest = between $400-$450 (depending on final purchase price; Pre-approved 20% down, 4.5% interest rate for 30 yrs)Closing Costs: $3,000Estimated Repairs: $0 (move-in ready).What's your max offer?

If you pay $250,000 for a college education, after 4 years, are you automatically making a 6 figure salary, or do you then have to get a job and work?  

You can get $600-$700 (Sometimes $800 on the streets where the college kids want to live) per bedroom in Burlington for pretty small rooms and low grade finishes.

I went to college and I got a business degree that emphasized real estate.  

We purchase our student rooming house as a "home" for my sister-in-law {she does live there ... see below} and, because of that, the rents did not count towards income for the purchase.Clientele: When we looked at rooming houses we found three basic types of rooming/boarding house in our area.Student - there are two universities and community college in our little city, so students are a prime clientele;Industry/Organization/Institution - another type of rooming house is one which is near and caters to a particular employer/workforce (i.e. a factory) or institution (hospital, military).Social -  the third type in our area is the rooming house that caters to the working poor, the addicted, and other on the edges of society.Each of the above types of rooming house requires a different set of skills and management style.  

My main concern is excessive damages from college students.

I graduated from college in 2014 with BA in Economics, did consulting jobs for banks for 2 years plus my previous internships (total 4 years experience).

I lived in Bellevue while in college years ago.Northside is great for business because you are close to stadium. 

I just finished up my third year out of five at college and I am looking to learn more about real estate investing (duh).

I'd be more worried about your houses in College Park, MD next time the Terps make it to the tournament.I am a bit worried about the damage to the city's already crappy reputation.